Tag Archive for Wfc

Stock Market Today: New Rules for Big Banks

Stock market news today, April 9, 2014: The Dow Jones Industrial Average rose 10 points yesterday to finish at 16,256. The Nasdaq increased 33 points to finish at 4,112, while the S&P 500 added 6 points to end the day at 1,851.

Today, the FOMC will release minutes from its March meeting. Investors are seeking clues on when Fed Chair Janet Yellen and the central bank will exercise an increase in interest rates.

The post Stock Market Today: New Rules for Big Banks appeared first on Money Morning – Only the News You Can Profit From.

Big Bank Earnings Today: Wells Fargo (NYSE: WFC) and JPMorgan (NYSE: JPM) – Money Morning

Two of the largest U.S. financial institutions kicked off third-quarter results for big bank earnings today, giving us a peek at how they fared amid tough times for both firms.

Wells Fargo & Co (NYSE: WFC) is in the midst of slashing headcount in its mortgage unit by some 1,800, and JPMorgan Chase & Co (NYSE: JPM) is tangled up in settlement talks with the U.S. Justice Department.

Cybersecurity: See Who’s On This Latest Hacker Hit List – Money Morning

This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission. A group of mostly Middle East and North Africa based criminal hackers launched a cyber-attack campaign Tuesday that tested the cybersecurity of U.S. government agencies, financial institutions and commercial businesses. Dubbed OpUSA, the effort is the latest in…

2013 Earnings Season: Forget Alcoa; Track These Real Bellwethers – Money Morning

At the start of every earnings season, investors typically turn to Alcoa Inc. (NYSE: AA) – the first company in the Dow Jones to report earnings each quarter – as a market bellwether.

But Alcoa is no longer a reliable market indicator.

“With this upcoming earnings season, we wouldn’t put nearly the same confidence [in Alcoa] that we would just five or six years ago,” Ryan Detrick, a Cincinnati-based analyst at Shaeffer’s Investment Research, told Bloomberg News. “The company’s results now predict the direction of the market about as well as a coin flip.”

In fact, Money Morning Global Investing Strategist Martin Hutchinson said Alcoa, the largest producer of aluminum in the U.S., should never have been used as an economic indicator.

“I don’t think Alcoa was ever a very good bellwether; it just reports first,” Hutchinson said. “The aluminum cycle tells you something about manufacturing conditions, but manufacturing is a small part of the economy these days.”

So if not Alcoa, then what stocks should investors pay attention to this earnings season?

To continue reading, please click here…